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Insurance companies ramp up efforts to claw back money from providers

Insurance companies ramp up efforts to claw back money from providers

March 20, 2023

CAROLINE HUDSON 

Insurance companies are ramping up efforts to recover overpayments made to hospitals and health systems—adding to providers’ operational and financial challenges in an already-tough economic environment.

In a practice known as clawbacks, insurers can recoup money after determining they’ve paid too much on past claims due to incorrect coding or fee-for-service reclassifications. Some enlist third-party companies to find overpayments, even if they occurred years ago. Insurance companies typically offset the amount owed by deducting it from the current plan account, meaning they pay less for other services.

Digital health picks itself up after Silicon Valley Bank collapse

Digital health picks itself up after Silicon Valley Bank collapse

March 13, 2023

GABRIEL PERNA 

Venture capital firms and founders of digital health companies are picking up the pieces after an eventful few days tied to the failure of Silicon Valley Bank. 

“We had all of our money at Silicon Valley Bank. They were our full banking partners,” said Ellen DaSilva, CEO and founder of Summer Health, a text-based pediatric care provider. “When I started the company, I would say all of the people in my life also banked with SVB.” 

Digital health could get a reset following Silicon Valley Bank failure

Digital health could get a reset following Silicon Valley Bank failure

March 10, 2023

BROCK E.W. TURNER 

The Federal Deposit Insurance Corporation’s decision to take over Silicon Valley Bank on Friday is likely to leave many digital health companies scrambling to pay employees and suppliers. 

SVB, the nation’s16th largest bank and headquartered in Santa Clara, California, was a big bank for tech companies, startups and venture capital firms. The bank said on its website that it had $78.8 billion in healthcare deposits and investments as of December.

Where Physician Pay Is Falling

Where Physician Pay Is Falling

03/10/2023

Riz Hatton

Many physicians have expressed dissatisfaction with their income in light of inflation and CMS pay cuts. However, some specialties have seen a sharper drop in pay than others. 

This data was pulled from Physicians Thrive’s 2022 Physician Compensation Report and Merritt Hawkins and AMN Healthcare’s 2022 “Review of Physician and Advanced Practitioner Recruiting Incentives” reports.

Virtual prescribing of controlled substances is in limbo as PHE winds down

Virtual prescribing of controlled substances is in limbo as PHE winds down

February 06, 2023

GABRIEL PERNA 

The coming end of the COVID-19 public health emergency and pandemic-era telehealth flexibilities could rattle an already besieged behavioral health system and force providers to make ethical decisions. 

The public health emergency, which President Biden will end May 11, allowed clinicians to prescribe controlled substance medications via telehealth without an office visit. The 2008 Ryan Haight Act, which temporarily waived the office visit requirement, allowed providers to treat a larger population of behavioral health patients more efficiently because they could prescribe and see patients remotely. 

CMS finalizes RADV rule, leave MA plans on the hook for billions

CMS finalizes RADV rule, leave MA plans on the hook for billions

January 30, 2023

LAUREN BERRYMAN 

Medicare Advantage carriers will be on the hook for errors made in diagnostic coding reaching back to 2018 under a final rule the Centers for Medicare and Medicaid Services issued Monday.

The Medicare Risk Adjustment Data Validation, or RADV, regulation took five years to complete after its draft version published in 2018 and attracted vehement opposition from the health insurance industry.

FBI infiltrates ransomware gang that targeted hospitals

FBI infiltrates ransomware gang that targeted hospitals

January 26, 2023

Associated Press

WASHINGTON — The FBI and international partners have at least temporarily disrupted the network of a prolific ransomware gang they infiltrated last year, saving victims including hospitals and school districts a potential $130 million in ransom payments, Attorney General Merrick Garland and other U.S. officials announced Thursday.

CommonSpirit Health sued over data breach involving 600,000 patients

CommonSpirit Health sued over data breach involving 600,000 patients

January 04, 2023

CRAIN’S CHICAGO BUSINESS 

Katherine Davis

Chicago-based Catholic hospital chain CommonSpirit Health has been hit with a proposed class-action lawsuit over its month-long data breach at the end of last year that impacted more than 600,000 patients.